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Royal Mail: final disposal of shares

Royal Mail: final disposal of shares


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About the Book

This is the Fourth report to Parliament laid pursuant to section 2 of the Postal Services Act 2011. It provides Parliament with the detail of the disposal of the Government's final shareholding in Royal Mail plc, 10 million shares, to the company's eligible UK employees. The primary means of protecting the universal postal service is the regulatory regime for the postal market established by the Postal Services Act 2011. The minimum requirements of the universal service can only be changed by the Government with the agreement of Parliament In addition, the requirement that the universal service be geographically uniform throughout the UK can only be changed through new primary legislation. There was, therefore, no policy need for Government to hold shares in Royal Mail. In 2015/16, the Government has disposed of 28% of the company's shares through sales on the London Stock Exchange in June and October. These raised combined proceeds of GBP1.34bn which will be used to reduce public debt. In total, including the Initial Public Offering (IPO) in October 2013, the disposal of Royal Mail shares has raised GBP3.32bn for the tax payer. 1.5 This report provides further information about the Government's plans to allocate a further gift of 10m shares to employees, which was announced on 13 October 2015. This final allocation to eligible UK Royal Mail employees will mean that the Government will have disposed of all of its shares in Royal Mail and the company will be wholly owned by a combination of private investors and employees.


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Product Details
  • ISBN-13: 9780108562136
  • Publisher: TSO
  • Publisher Imprint: Tso
  • Height: 300 mm
  • No of Pages: 8
  • ISBN-10: 0108562131
  • Publisher Date: 23 Mar 2016
  • Binding: Paperback
  • Language: English
  • Sub Title: final disposal of shares


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